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20121208
20121208
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in the fiscal cliff negotiations. >> tom: that and more tonight on "n.b.r."! >> susie: the job market is proving to be surprisingly resilient. american employers hired 146,000 workers in november, much more than expected. and the unemployment rate fell to 7.7%, the lowest level since december of 2008. as erika miller reports, that wasn't the only surprise in today's report. >> reporter: almost no one on wall street saw this good news coming. there was every reason to think hiring would be weak last month. after all, many parts of the east coast are still recovering from devastation caused by superstorm sandy. >> i think the most likely explanation here is sandy's impact was significant but was so short-lived that it didn't extend to the sample period of the employment report which was the week that covered november 12. >> reporter: hiring was also supposed to be weak due to worries about the fiscal cliff. with $600 billion in automatic tax hikes and government spending cuts set to start next yer, why aren't more firms postponing hiring decisions? >> what we're hearing from businesses is that it
than expected in the wake of hurricane sandy and fiscal cliff anxiety. >> so it looks like sandy will not affect the numbers even after revisions. >> reporter: georgetown's harry holzer, former chief economist for the labor department. >> in terms of the fiscal cliff, so far we are not seeing any big impact. >> reporter: not even an impact on retail which, for all the talk of online supplanting bricks-and-mortar buying, added 53,000 jobs last month-- much of it holiday hiring, no doubt-- but a healthy 140,000 overall increase in the past three months. not all the new numbers were festive, however. construction shed 20,000 jobs, though perhaps influenced by sandy. manufacturing dropped 7,000. grinchier still, job growth in september and october was revised down by 49,000 jobs. and for all the talk of a lower unemployment rate, its explanation seemed to be that several hundred thousand more americans stopped looking for work in november and were counted out of the labor force. again, economist holtzer. >> this month's change was driven completely by the fact some people stopped loo
Search Results 0 to 1 of about 2